Insider Selling: Kellanova (NYSE:K) Major Shareholder Sells $9,249,139.76 in Stock

Kellanova (NYSE:K) major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction on Monday, September 30th. The shares were sold at an average price of $80.72, for a total value of $9,249,139.76. Following the sale, the insider now owns 50,139,106 shares in the company, valued at $4,047,228,636.32. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Kellanova Price Performance

Shares of NYSE:K opened at $80.59 on Thursday. The firm’s 50 day moving average price is $76.09 and its 200-day moving average price is $64.57. Kellanova has a twelve month low of $47.63 and a twelve month high of $81.00. The company has a quick ratio of 0.48, a current ratio of 0.73 and a debt-to-equity ratio of 1.46. The stock has a market capitalization of $27.55 billion, a PE ratio of 30.18, a price-to-earnings-growth ratio of 2.59 and a beta of 0.39.

Kellanova (NYSE:K) last released its earnings results on Thursday, August 1st. The company reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $0.90 by $0.11. Kellanova had a net margin of 6.72% and a return on equity of 36.74%. The company had revenue of $3.19 billion for the quarter, compared to analysts’ expectations of $3.15 billion. During the same quarter last year, the business earned $1.25 EPS. The firm’s revenue was down 4.7% compared to the same quarter last year. Equities research analysts expect that Kellanova will post 3.7 EPS for the current year.

Kellanova Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Tuesday, September 3rd were paid a dividend of $0.57 per share. This is a boost from Kellanova’s previous quarterly dividend of $0.56. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $2.28 dividend on an annualized basis and a yield of 2.83%. Kellanova’s dividend payout ratio (DPR) is presently 85.39%.

Institutional Investors Weigh In On Kellanova

A number of institutional investors and hedge funds have recently added to or reduced their stakes in K. Blue Trust Inc. grew its holdings in Kellanova by 57.2% during the 2nd quarter. Blue Trust Inc. now owns 467 shares of the company’s stock valued at $27,000 after buying an additional 170 shares in the last quarter. B. Riley Wealth Advisors Inc. grew its holdings in Kellanova by 1.9% during the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 9,810 shares of the company’s stock valued at $566,000 after buying an additional 180 shares in the last quarter. IFG Advisory LLC grew its holdings in Kellanova by 1.4% during the 2nd quarter. IFG Advisory LLC now owns 13,825 shares of the company’s stock valued at $797,000 after buying an additional 189 shares in the last quarter. Eukles Asset Management grew its holdings in Kellanova by 0.7% during the 2nd quarter. Eukles Asset Management now owns 26,378 shares of the company’s stock valued at $1,521,000 after buying an additional 193 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. grew its holdings in Kellanova by 61.9% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 523 shares of the company’s stock valued at $30,000 after buying an additional 200 shares in the last quarter. Institutional investors own 83.87% of the company’s stock.

Analyst Upgrades and Downgrades

K has been the topic of a number of research analyst reports. StockNews.com began coverage on Kellanova in a report on Thursday. They set a “hold” rating on the stock. Barclays raised their price target on shares of Kellanova from $67.00 to $83.00 and gave the company an “equal weight” rating in a report on Thursday, August 15th. Bank of America raised shares of Kellanova from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $62.00 to $70.00 in a report on Friday, August 2nd. Evercore ISI upgraded shares of Kellanova to a “hold” rating in a research report on Friday, August 2nd. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of Kellanova from $76.00 to $83.50 and gave the stock a “hold” rating in a research report on Thursday, August 15th. Fifteen equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, Kellanova presently has an average rating of “Hold” and a consensus target price of $74.32.

About Kellanova

Kellanova, together with its subsidiaries, manufactures and markets snacks and convenience foods in North America, Europe, Latin America, the Asia Pacific, the Middle East, Australia, and Africa. Its principal products include crackers, crisps, savory snacks, toaster pastries, cereal bars, granola bars and bites, ready-to-eat cereals, frozen waffles, veggie foods, and noodles.